Store rollout sees sales grow for Oak Furniture Land

Retail powerhouse Oak Furniture Land has revealed its continued rollout of nationwide stores has contributed to a huge surge in sales.

According to JB Global Limited’s, the group that houses Oak Furniture Land and SofaStore, latest filed accounts for the year ended 30 September 2015, total sales rocketed by 25.1% to £239.2m from £191.1m in 2014.

The group said that its continued expansion plan, which saw the company expand its presence by 11 stores during the period under review, bringing its total to 71 across the UK, played a key part in the growth, alongside its extensive TV advertising throughout the year.

Gross profit also registered a significant uptick by 10.8% to £64.3m from £58m, although operating profit fell by 37.1% to £7.1m from £11.3m in 2014.

Overall profit for the year experienced a fall of 45.2% to £4.6m from £8.4m, as the group continued to invest in its expansion process, which included the launch within Northern Ireland back in December 2015.

Commenting within the report, the group said: “The business continued to perform strongly in 2015 by expanding the portfolio of nationwide stores.

“The company is very satisfied with the results for the year and expects to improve profitability further in the current financial year.”